Saturday, September 20, 2008

Why Now is a Great Time to Buy

Despite all of the negative media coverage pertaining to the investment world, real estate conditions in the U.S. uncertainty about our own economy and a forthcoming federal election, now more that ever is a great time to buy real estate. Here are some of the main reasons why.

1.) There is a huge selection of residential properties throughout the Georgian Triangle both resale and new for buyers to choose from.

2.) Pricing remains stable and with the odd exception there are no bidding wars to artifically drive prices higher.

3.) Buyers have time on their side. With so much to choose from and sales running at a slower pace, buyers need not jump to make an offer for fear of loosing out. Find a REALTOR® willing to spend the time to educate you about the market and prepared to afford you as much time as it takes to find what best suits your needs and budget.

4.) No pressure means you can insert conditions into your offer that protects your interests ie: a home inspection, financing condition etc.

5.) Although interest rates have risen somewhat, the lending market is still very competitive allowing you the opportunity to get some very attractive financing. A mortgage broker can shop both conventional lenders ie: the major banks as well as other sources of mortgage financing to get you a great deal!

Many buyers appear right now to be taking a what and see attitude towards purchasing. There is no reason to think that prices in our market are going to fall like in the U.S. as the mortgage meltdown south of the border has nothing to do with Canadian real estate market condtions. As I currently am advising buyer clients, the only properties out there that are coming down in price significantly are those that were over-priced to begin with and there is no inclination in our market right now where buyers are willing to over pay.

My Profile

Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario.
In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.